North Star Investment Management Corp. increased its holdings in shares of AbbVie Inc (NYSE:ABBV) by 1.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,821 shares of the company’s stock after buying an additional 611 shares during the period. North Star Investment Management Corp.’s holdings in AbbVie were worth $4,982,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Prime Capital Investment Advisors LLC acquired a new position in AbbVie during the 4th quarter worth approximately $27,000. Penserra Capital Management LLC acquired a new position in AbbVie during the 4th quarter worth approximately $32,000. Larson Financial Group LLC acquired a new position in AbbVie during the 4th quarter worth approximately $37,000. Horrell Capital Management Inc. acquired a new position in AbbVie during the 4th quarter worth approximately $41,000. Finally, Capital Financial Planning LLC acquired a new position in AbbVie during the 4th quarter worth approximately $41,000. 68.33% of the stock is currently owned by hedge funds and other institutional investors.
ABBV has been the subject of several research analyst reports. ValuEngine upgraded shares of AbbVie from a “strong sell” rating to a “sell” rating in a report on Friday, March 15th. Barclays restated a “hold” rating and issued a $86.00 target price on shares of AbbVie in a report on Thursday, February 14th. Goldman Sachs Group initiated coverage on shares of AbbVie in a report on Tuesday, May 28th. They issued a “neutral” rating and a $84.00 target price for the company. Zacks Investment Research cut shares of AbbVie from a “hold” rating to a “sell” rating in a report on Friday, April 5th. Finally, BMO Capital Markets upgraded shares of AbbVie from an “underperform” rating to a “market perform” rating and upped their target price for the company from $71.00 to $79.00 in a report on Sunday, April 28th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $98.36.
Shares of NYSE:ABBV opened at $78.95 on Friday. The firm has a market cap of $116.15 billion, a P/E ratio of 9.98, a price-to-earnings-growth ratio of 1.60 and a beta of 1.10. AbbVie Inc has a 1-year low of $73.81 and a 1-year high of $100.23.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, April 25th. The company reported $2.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.06 by $0.08. The firm had revenue of $7.83 billion during the quarter, compared to analysts’ expectations of $7.81 billion. AbbVie had a net margin of 16.42% and a negative return on equity of 221.09%. AbbVie’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.87 EPS. Analysts forecast that AbbVie Inc will post 8.81 earnings per share for the current year.
In related news, VP Brian L. Durkin sold 475 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $79.69, for a total transaction of $37,852.75. Following the completion of the sale, the vice president now owns 9,121 shares in the company, valued at approximately $726,852.49. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.08% of the stock is owned by corporate insiders.
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AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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